DEERE & CO

DE 10-Q · Q1 2026

DE Q1 2026 request

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Income Statement

Income Statement
Metric Q1 2026 Q1 2025 YoY
Revenue (Q)
Show Product Lines breakouts
Compact Construction 468 361 +29.6%
Compact Construction · Construction & Forestry (CF) 468 361 +29.6%
Construction 1,111 770 +44.3%
Construction · Construction & Forestry (CF) 1,111 770 +44.3%
Forestry 269 226 +19.0%
Forestry · Construction & Forestry (CF) 269 226 +19.0%
Production Agriculture 3,093 3,002 +3.0%
Production Agriculture · Production & Precision Agriculture (PPA) 3,093 3,002 +3.0%
Roadbuilding 772 596 +29.5%
Roadbuilding · Construction & Forestry (CF) 772 596 +29.5%
Small Agriculture 1,527 1,234 +23.7%
Small Agriculture · Small Agriculture & Turf (SAT) 1,527 1,234 +23.7%
Turf 576 463 +24.4%
Turf · Small Agriculture & Turf (SAT) 576 463 +24.4%
Revenue 9,611 8,508 +13.0%
Show Product Lines breakouts
Financial Service 1,343 1,453 -7.6%
Financial Service · Construction & Forestry (CF) 5 2 +150.0%
Financial Service · Financial Services (FS) 1,260 1,363 -7.6%
Financial Service · Operating Segments 1,287 1,383 -6.9%
Financial Service · Production & Precision Agriculture (PPA) 12 9 +33.3%
Financial Service · Small Agriculture & Turf (SAT) 10 9 +11.1%
Other Income 267 246 +8.5%
Other Income · Construction & Forestry (CF) 48 45 +6.7%
Other Income · Corporate Non Segment 58 75 -22.7%
Other Income · Financial Services (FS) 124 107 +15.9%
Other Income · Operating Segments 265 241 +10.0%
Other Income · Production & Precision Agriculture (PPA) 57 56 +1.8%
Other Income · Small Agriculture & Turf (SAT) 36 33 +9.1%
Product 8,001 6,809 +17.5%
Product · Construction & Forestry (CF) 2,670 1,994 +33.9%
Product · Operating Segments 8,001 6,809 +17.5%
Product · Production & Precision Agriculture (PPA) 3,163 3,067 +3.1%
Product · Small Agriculture & Turf (SAT) 2,168 1,748 +24.0%
Show Business Segments breakouts
Construction & Forestry (CF) 2,734 2,058 +32.8%
Construction & Forestry (CF) · Asia, Africa, Oceania, and Middle East 288 224 +28.6%
Construction & Forestry (CF) · CA 136 101 +34.7%
Construction & Forestry (CF) · Central Europe and CIS 76 71 +7.0%
Construction & Forestry (CF) · Latin America 231 205 +12.7%
Construction & Forestry (CF) · Operating Segments 2,731 2,043 +33.7%
Construction & Forestry (CF) · Transferred At Point In Time 2,695 2,028 +32.9%
Construction & Forestry (CF) · Transferred Over Time 39 30 +30.0%
Construction & Forestry (CF) · US 1,577 1,113 +41.7%
Construction & Forestry (CF) · Western Europe 426 344 +23.8%
Financial Services (FS) · Operating Segments 1,488 1,573 -5.4%
Production & Precision Agriculture (PPA) 3,269 3,173 +3.0%
Production & Precision Agriculture (PPA) · Asia, Africa, Oceania, and Middle East 325 205 +58.5%
Production & Precision Agriculture (PPA) · CA 398 354 +12.4%
Production & Precision Agriculture (PPA) · Central Europe and CIS 172 67 +156.7%
Production & Precision Agriculture (PPA) · Latin America 684 715 -4.3%
Production & Precision Agriculture (PPA) · Operating Segments 3,286 3,189 +3.0%
Production & Precision Agriculture (PPA) · Transferred At Point In Time 3,164 3,086 +2.5%
Production & Precision Agriculture (PPA) · Transferred Over Time 105 87 +20.7%
Production & Precision Agriculture (PPA) · US 1,226 1,555 -21.2%
Production & Precision Agriculture (PPA) · Western Europe 464 277 +67.5%
Small Agriculture & Turf (SAT) 2,224 1,807 +23.1%
Small Agriculture & Turf (SAT) · Asia, Africa, Oceania, and Middle East 376 308 +22.1%
Small Agriculture & Turf (SAT) · CA 101 79 +27.8%
Small Agriculture & Turf (SAT) · Central Europe and CIS 60 39 +53.8%
Small Agriculture & Turf (SAT) · Latin America 95 80 +18.8%
Small Agriculture & Turf (SAT) · Operating Segments 2,223 1,795 +23.8%
Small Agriculture & Turf (SAT) · Transferred At Point In Time 2,174 1,760 +23.5%
Small Agriculture & Turf (SAT) · Transferred Over Time 50 47 +6.4%
Small Agriculture & Turf (SAT) · US 1,106 949 +16.5%
Small Agriculture & Turf (SAT) · Western Europe 486 352 +38.1%
Show Geography breakouts
Asia, Africa, Oceania, and Middle East 1,043 792 +31.7%
CA 826 721 +14.6%
Central Europe and CIS 310 181 +71.3%
Latin America 1,042 1,096 -4.9%
US 4,960 4,702 +5.5%
Western Europe 1,430 1,016 +40.7%
Show Consolidation Items breakouts
Intersegment Elimination -175 -167 -4.8%
Operating Segments 9,728 8,600 +13.1%
Show Timing Of Transfer Of Good Or Service breakouts
Transferred At Point In Time 8,066 6,903 +16.8%
Transferred Over Time 1,545 1,605 -3.7%
Other Revenue (Q)
Show Product Lines breakouts
Financial Products 1,486 1,579 -5.9%
Financial Products · Construction & Forestry (CF) 18 21 -14.3%
Financial Products · Financial Services (FS) 1,384 1,470 -5.9%
Financial Products · Production & Precision Agriculture (PPA) 57 55 +3.6%
Financial Products · Small Agriculture & Turf (SAT) 27 33 -18.2%
Show Business Segments breakouts
Financial Services (FS) 1,384 1,470 -5.9%
Financial Services (FS) · Asia, Africa, Oceania, and Middle East 54 55 -1.8%
Financial Services (FS) · CA 191 187 +2.1%
Financial Services (FS) · Central Europe and CIS 2 4 -50.0%
Financial Services (FS) · Latin America 32 96 -66.7%
Financial Services (FS) · Transferred At Point In Time 33 29 +13.8%
Financial Services (FS) · Transferred Over Time 1,351 1,441 -6.2%
Financial Services (FS) · US 1,051 1,085 -3.1%
Financial Services (FS) · Western Europe 54 43 +25.6%
Cost of Revenue (Q)
Show Product Lines breakouts
Product 6,280 5,037 +24.7%
Product · Construction & Forestry (CF) 2,182 1,584 +37.8%
Product · Operating Segments 6,291 5,045 +24.7%
Product · Production & Precision Agriculture (PPA) 2,476 2,164 +14.4%
Product · Small Agriculture & Turf (SAT) 1,633 1,297 +25.9%
Total Costs & Expenses 8,775 7,613 +15.3%
Research & Development 554 526 +5.3%
Selling, General & Administrative 972 972 0.0%
Operating Income (Q)
Show Business Segments breakouts
Construction & Forestry (CF) · Operating Segments 137 65 +110.8%
Financial Services (FS) · Operating Segments 301 266 +13.2%
Production & Precision Agriculture (PPA) · Operating Segments 139 338 -58.9%
Small Agriculture & Turf (SAT) · Operating Segments 196 124 +58.1%
Show Consolidation Items breakouts
Operating Segments 773 793 -2.5%
Interest Expense (Q)
Show Product Lines breakouts
Reconciling Item Including Corporate -93 -84 -10.7%
Income Tax Expense (Benefit) 196 27 +625.9%
Net Income 656 869 -24.5%
Net Income 655 867 -24.5%
Comprehensive Income 1,023 408 +150.7%
Other Comprehensive Income 367 -461 +179.6%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment -1 3 -133.3%
Accumulated Gain Loss Net Cash Flow Hedge Parent -5 -1 -400.0%
Accumulated Net Unrealized Investment Gain Loss 2 -15 +113.3%
Accumulated Translation Adjustment 371 -448 +182.8%
EPS (Basic) 2.43 3.2 -24.1%
EPS (Diluted) 2.42 3.19 -24.1%
Wtd Avg Shares (Basic) 270.3 271.6 -0.5%
Wtd Avg Shares (Diluted) 270.9 272.3 -0.5%
Interest Expense 719 829 -13.3%
Show Equity Components breakouts
Accumulated Gain Loss Net Cash Flow Hedge Parent · Interest Rate Swap 4 8 -50.0%
Interest Expense Operating (Q)
Show Business Segments breakouts
Financial Services (FS) · Operating Segments -664 -766 +13.3%
Show Consolidation Items breakouts
Operating Segments -664 -766 +13.3%
Provision For Loan Lease And Other Losses 36 69 -47.8%
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments 836 895 -6.6%
Income Loss From Equity Method Investments 15 -1 +1600.0%
Net Income Loss Attributable To Noncontrolling Interest -1 -2 +50.0%

Balance Sheet

Balance Sheet
Metric Q1 2026 Q1 2025 YoY
Current Assets
Cash & Cash Equivalents 6,798 6,601 +3.0%
Inventory 8,286 7,744 +7.0%
Non-Current Assets
Goodwill 4,280 3,872 +10.5%
Show Business Segments breakouts
Construction & Forestry (CF) 3,134 2,821 +11.1%
Production & Precision Agriculture (PPA) 750 690 +8.7%
Small Agriculture & Turf (SAT) 396 361 +9.7%
Intangible Assets 880 937 -6.1%
Defined Benefit Plan Assets For Plan Benefits Noncurrent 3,378 3,018 +11.9%
Deferred Tax Assets 2,268 1,852 +22.5%
Total Assets 103,436 103,119 +0.3%
Show Business Segments breakouts
Construction & Forestry (CF) · Operating Segments 8,043 7,237 +11.1%
Financial Services (FS) · Operating Segments 67,904 69,686 -2.6%
Production & Precision Agriculture (PPA) · Operating Segments 9,123 8,773 +4.0%
Small Agriculture & Turf (SAT) · Operating Segments 4,335 4,179 +3.7%
Show Consolidation Items breakouts
Corporate Non Segment 14,031 13,244 +5.9%
Show Pledged Status breakouts
Asset Pledged As Collateral With Right 6,647 8,439 -21.2%
Other Assets
Marketable Securities 1,398 1,214 +15.2%
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level1 · Fair Value Measurements Recurring 264 301 -12.3%
Fair Value Inputs Level1 · US Government Debt Securities 264 301 -12.3%
Fair Value Inputs Level2 · Corporate Debt Securities 510 419 +21.7%
Fair Value Inputs Level2 · Fair Value Measurements Recurring 1,134 913 +24.2%
Fair Value Inputs Level2 · Foreign Government Debt Securities 162 132 +22.7%
Fair Value Inputs Level2 · International Fixed Income Fund 7
Fair Value Inputs Level2 · Mortgage Backed Securities 228 174 +31.0%
Fair Value Inputs Level2 · US Government Debt Securities 117 108 +8.3%
Fair Value Inputs Level2 · US States And Political Subdivisions 110 80 +37.5%
Accounts Receivable Net 5,993 4,931 +21.5%
Notes Receivable And Net Investment In Lease Net (Q)
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level3 · Asset Not Pledged As Collateral 42,266 41,311 +2.3%
Fair Value Inputs Level3 · Asset Pledged As Collateral With Right 6,494 8,174 -20.6%
Show Fair Value By Measurement Basis breakouts
Carrying Reported Amount Fair Value Disclosure · Asset Not Pledged As Collateral 42,113 41,396 +1.7%
Carrying Reported Amount Fair Value Disclosure · Asset Pledged As Collateral With Right 6,479 8,257 -21.5%
Show Pledged Status breakouts
Asset Not Pledged As Collateral 42,113 41,396 +1.7%
Asset Pledged As Collateral With Right 6,479 8,257 -21.5%
Other Receivables 2,411 2,979 -19.1%
Property Subject To Or Available For Operating Lease Net 7,512 7,157 +5.0%
Property Plant And Equipment And Finance Lease Right Of Use Asset Excluding Lessor Asset Under Operating Lease After Accumulated Depreciation And Amortization 8,084 7,425 +8.9%
Other Assets 3,556 2,807 +26.7%
Show Pledged Status breakouts
Asset Pledged As Collateral With Right 168 182 -7.7%
Current Liabilities
Debt Current 14,392 12,811 +12.3%
Show Short Term Debt Type breakouts
Commercial Paper 4,327 2,699 +60.3%
Long-term Borrowings Due Within One Year 9,342 9,517 -1.8%
Notes Payable To Banks 685 561 +22.1%
Product Financing Arrangement 38 34 +11.8%
Current Portion of Long-Term Debt (Q)
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level2 9,390 9,468 -0.8%
Show Fair Value By Measurement Basis breakouts
Carrying Reported Amount Fair Value Disclosure 9,342 9,517 -1.8%
Non-Current Liabilities
Accounts Payable And Accrued Liabilities Current And Noncurrent 12,533 12,162 +3.1%
Deferred Tax Liabilities 434 448 -3.1%
Long Term Debt And Finance Leases Noncurrent 41,804 43,556 -4.0%
Pension And Other Postretirement Defined Benefit Plans And Other Liabilities Current And Noncurrent 1,633 1,734 -5.8%
Total Liabilities 77,079 80,555 -4.3%
Long-Term Debt (Q)
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level2 41,721 43,172 -3.4%
Show Fair Value By Measurement Basis breakouts
Carrying Reported Amount Fair Value Disclosure 41,730 43,483 -4.0%
Other Liabilities
Secured Debt 6,283 8,014 -21.6%
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level2 6,322 8,036 -21.3%
Show Fair Value By Measurement Basis breakouts
Carrying Reported Amount Fair Value Disclosure 6,283 8,014 -21.6%
Redeemable Noncontrolling Interest Equity Carrying Amount 50 78 -35.9%
Stockholders' Equity
Common Stock 5,715 5,526 +3.4%
Treasury Stock Common Value -36,645 -35,709 -2.6%
Retained Earnings 59,895 56,829 +5.4%
Accumulated Other Comprehensive Income -2,665 -4,167 +36.0%
Total Stockholders' Equity 26,300 22,479 +17.0%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment -1,183 -1,271 +6.9%
Accumulated Gain Loss Net Cash Flow Hedge Parent -59 -73 +19.2%
Accumulated Net Unrealized Investment Gain Loss -41 -89 +53.9%
Accumulated Other Comprehensive Income -2,665 -4,167 +36.0%
Accumulated Translation Adjustment -1,382 -2,734 +49.5%
Minority Interest 7 7 0.0%
Stockholders Equity Including Portion Attributable To Noncontrolling Interest 26,307 22,486 +17.0%
Show Equity Components breakouts
Accumulated Other Comprehensive Income -2,665 -4,167 +36.0%
Common Stock 5,715 5,526 +3.4%
Noncontrolling Interest 7 7 0.0%
Retained Earnings 59,895 56,829 +5.4%
Treasury Stock Common -36,645 -35,709 -2.6%
Total Liabilities & Equity 103,436 103,119 +0.3%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q1 2026 YTD Q1 2025 YoY
Operating Activities
Depreciation & Amortization 590 549 +7.5%
Show Business Segments breakouts
Construction & Forestry (CF) · Operating Segments 96 88 +9.1%
Financial Services (FS) · Operating Segments 274 265 +3.4%
Production & Precision Agriculture (PPA) · Operating Segments 171 166 +3.0%
Small Agriculture & Turf (SAT) · Operating Segments 75 65 +15.4%
Show Consolidation Items breakouts
Intersegment Elimination -26 -35 +25.7%
Stock-Based Compensation 41 28 +46.4%
Deferred Income Taxes 18 208 -91.3%
Change in Inventory -746 -795 +6.2%
Net Cash from Operations -890 -1,132 +21.4%
Investing Activities
Capital Expenditures -256 -352 +27.3%
Other Investing Activities -51 -47 -8.5%
Net Cash from Investing 1,822 1,416 +28.7%
Financing Activities
Share Repurchases -302 -441 +31.5%
Net Cash from Financing -2,490 -923 -169.8%
Other Cash Flow
Net Change in Cash -1,460 -726 -101.1%

Values in millions USD. Source: SEC EDGAR 10-Q filing.

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